Inflation is so bad in Venezuela that an iPhone costs more than $47,000

iPhone 5c - Photo by Xoxogirl123

Venezuela is currently in an economic crisis, and it’s causing the price of everyday gadgets to skyrocket.

It’s so bad that, according to the official exchange rate, an iPhone 6 costs over $47,000, reports Bloomberg.

The problem is twofold: There’s a nationwide shortage of top-tier smartphones as well as inflation reaching never-before-seen heights.

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